DEALS

Discovery announced it has acquired Golf Digest from Condé Nast. Golf Digest will extend Discovery’s global golf media business to the US market through the brand's multi-platform distribution and reach.

Axel Springer has announced the acquisition of CeleraOne, a German provider of paid content technology. With the acquisition, the media company becomes a technology provider in the business of payment technology.

Ringier has acquired a minority interest in the Berlin start-up Bot Labs, which was founded in January 2018 by Hubert Burda Media together with Ingo Rübe, the former CTO of the national publishing company at Burda. Bot Labs develops blockchain-based technological innovations for companies and offers cooperative models.

Meredith Corporation announced an agreement to sell the Fortune media brand for $150m cash to Fortune Media Group Holdings, wholly owned by Chatchaval Jiaravanon. The transaction is subject to regulatory approval and is expected to close in 2018.

Meredith has completed the sale of the Time media brand to Marc and Lynne Benioff for USD $190 million. In a release dated November 1, the American media and marketing company announced the completion of the sale, which was first announced September 16, 2018.

Axel Springer and Purplebricks will set up a joint holding company, that will acquire around 22 per cent of Homeday via the purchase of existing shares and a capital increase. In addition, Axel Springer’s existing stake of four per cent will be transferred to the holding company. Axel Springer and Purplebricks will each hold a 50 per cent stake in the joint holding company.